Ally Financial Inc. Has $1.63 Million Position in Apple Inc. $AAPL

Ally Financial Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 88.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,000 shares of the iPhone maker’s stock after selling 44,000 shares during the quarter. Ally Financial Inc.’s holdings in Apple were worth $1,631,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Overbrook Management Corp grew its position in shares of Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after purchasing an additional 38,174 shares during the period. Tufton Capital Management grew its position in shares of Apple by 4.3% in the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock valued at $25,496,000 after purchasing an additional 4,157 shares during the period. Torren Management LLC acquired a new position in shares of Apple in the 4th quarter valued at approximately $1,178,000. KBC Group NV grew its position in shares of Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock valued at $1,915,172,000 after purchasing an additional 214,215 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Apple by 5.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,246,305 shares of the iPhone maker’s stock valued at $572,168,000 after purchasing an additional 116,960 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $330.00 price objective on Apple in a research report on Monday, March 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a report on Monday, March 2nd. Citigroup reiterated a “buy” rating on shares of Apple in a report on Monday, June 1st. KeyCorp reiterated a “sector weight” rating on shares of Apple in a report on Tuesday. Finally, Bank of America reiterated a “buy” rating and issued a $380.00 price objective (up from $330.00) on shares of Apple in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.59.

Apple Trading Down 1.5%

NASDAQ AAPL opened at $291.13 on Friday. The company has a market cap of $4.28 trillion, a PE ratio of 35.20, a PEG ratio of 2.53 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $195.07 and a 12 month high of $317.40. The stock has a 50 day moving average of $285.64 and a 200-day moving average of $272.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, equities research analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

Insider Buying and Selling

In other news, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by corporate insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What’s the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here’s Why It’s Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple’s AI News Underwhelms. Siri AI Release Concerns Persist.

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.